The Financial Times reports a new paper by the deputy chair of a cross-party parliamentary rearmament group estimates Russia's 'hostile activities' against the UK cause at least £2–2.5 billion in economic losses per year.

Al Jazeera said Yemeni forces launched an offensive to retake the al-Waziyah area in Taiz province from Houthi fighters.

Deutsche Bank says despite high household debt, Australian households are more resilient to Reserve Bank of Australia rate hikes than expected. Improving household balance sheets are helping borrowers absorb tighter policy. Macro strategist Lachlan Dynan says household asset growth remains strong and debt-to-income has stabilised; he estimates the household debt-to-asset ratio is at its lowest since 1997. Dynan adds the cash-flow transmission of monetary policy appears weaker than over the past decade, and broader household balance-sheet strength — not just housing — may help offset wealth losses from weak house prices.